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TheStreet Open House

Ecolab Delivers Strong Fourth Quarter

Sales for International Cleaning, Sanitizing and Other Services operations, when measured at fixed currency rates, grew 3% to $833 million in the fourth quarter. Adjusted for the transfer of certain water treatment-related business from the International Cleaning, Sanitizing and Other Services segment to the Global Water segment, sales increased 5% in fixed currencies when compared with fourth quarter 2011 pro forma fixed currency sales, led by strong growth in Latin America operations, good gains in Asia Pacific and Canada, and modest growth in Europe. International Cleaning, Sanitizing and Other Services fixed currency operating income increased 32% to $114 million in the fourth quarter when compared with a year ago; fixed currency operating income increased 35% when compared with fourth quarter 2011 pro forma fixed currency operating income, with strong growth in all regions, led by EMEA. When measured at public currency rates, International Cleaning, Sanitizing and Other Services sales were $842 million and operating income was $116 million.

Global Water sales, when measured at fixed currency rates, were $536 million, increasing 3% when compared with fourth quarter 2011 pro forma fixed currency sales. Sales showed moderate gains across the regions, as good food and beverage and power sales offset soft mining results. Fixed currency operating income was $68 million in the fourth quarter, representing a 37% increase when compared with fourth quarter 2011 pro forma fixed currency operating income, benefiting from pricing and the comparison to last year which included a sharp run-up in raw material costs. When measured at public currency rates, Global Water sales were $537 million and operating income was $68 million.

Global Paper sales, when measured at fixed currency rates, rose 1% to $203 million in the fourth quarter when compared with fourth quarter 2011 pro forma fixed currency sales. Strong growth in Latin America and moderate gains in Europe and Asia Pacific were offset by soft North America sales, which primarily reflected the strategic elimination of certain low margin business. Fixed currency operating income increased 72% to $26 million in the fourth quarter when compared with fourth quarter 2011 pro forma fixed currency operating income; adjusted for the low margin business elimination, operating income rose 57%, benefiting from pricing and comparison to last year which included a sharp run-up in raw material costs. When measured at public currency rates, Global Paper sales were $204 million and operating income was $26 million.

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